Daiwa Securities Group Inc. Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Daiwa Securities Group Inc. purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,371 shares of the company’s stock, valued at approximately $103,000.

A number of other large investors also recently bought and sold shares of SOFI. Westside Investment Management Inc. raised its stake in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the period. Fortitude Family Office LLC purchased a new position in SoFi Technologies during the fourth quarter worth approximately $60,000. NBC Securities Inc. purchased a new position in SoFi Technologies during the third quarter worth approximately $61,000. Clear Street Markets LLC purchased a new position in SoFi Technologies during the third quarter worth approximately $69,000. Finally, TFC Financial Management Inc. raised its stake in SoFi Technologies by 87.0% during the third quarter. TFC Financial Management Inc. now owns 9,457 shares of the company’s stock worth $76,000 after purchasing an additional 4,400 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SOFI. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Jefferies Financial Group cut their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Needham & Company LLC started coverage on shares of SoFi Technologies in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Wedbush reissued an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Price Performance

SOFI opened at $7.87 on Friday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The company has a fifty day simple moving average of $7.64 and a 200 day simple moving average of $7.90.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The company’s revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.